Interim Management Statement

RNS Number : 6927L

JPMorgan Indian Invest Trust PLC

14 August 2013

 



JPMorgan Indian Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 30th June 2013

This interim management statement relates to the quarter from 1st April 2013 to 30th June 2013 and contains information that covers that period, unless otherwise stated. 

Financial performance - Cumulative Total Return *

	1 month	3 months	1 Year	3 Years	5 Years	10 Years
Share price	-7.9%	-7.6%	5.8%	-12.0%	30.2%	475.0%
Net asset value	-7.5%	-5.1%	9.4%	-8.8%	44.0%	456.3%
Benchmark	-6.7%	-5.5%	10.3%	-15.3%	41.4%	393.5%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

		As at 30th June 2013	As at 12th August 2013
Total assets		£457.8m	£407.9m
Share  price		353.8p	326.1p
Diluted Net asset value * Undiluted net asset value + Discount/Premium to diluted net asset value Gearing/-Net Cash Subscription share price	412.7p 419.5p -14.3%                        0.8% 55.5p		382.2p 387.2p -14.7%                  -2.8% 42.5p

Share prices shown are closing bid

* Net asset value (cum income with debt at fair value), assuming that all outstanding Subscription shares have been converted into Ordinary shares.

+ Net asset value (cum income with debt at fair value).

Source: JPMAM/Morningstar

Material events

There were no material events during the reporting period.

Material transactions

Changes to share capital

	Ordinary Shares	Subscription Shares
As at 1st April 2013	120,799,202	6,049,452
Shares bought back and cancelled	-	-
Shares bought back into Treasury	825,000	-
Shares cancelled from Treasury	-	-
Shares exercised	-	246,055
Shares issued (sub conversion)	246,055	-
As at 30th June 2013	120,210,146	5,803,397

During the period 1st April 2013 to 30th June 2013 the holders of 246,055 subscription shares elected to convert their shares into ordinary shares. 825,000 Ordinary shares were bought into Treasury during the period. Of the 120,210,146 ordinary shares in issue as at 30th June 2013, 15,024,788 shares were held in Treasury.

Since 30th June 2013, 48,869 Subscription shares have been exercised.

Portfolio Analyses

Ten largest holdings as at 30th June 2013

Stock name	Sector	Weight %
HDFC Bank	Financials	9.7
Housing Development Finance	Financials	7.8
Infosys Technologies	Information Technology	7.7
Reliance Industries	Energy	7.5
ITC	Consumer Staples	6.9
IDFC	Financials	4.3
Tata Consultancy Services Ambuja Cements	Information Technology Materials	4.0 3.6
Sun Pharmaceutical	Health Care	3.6
Kotak Mahindra Bank	Financials	3.5

Sector breakdown as at 30th June 2013

Sector	Portfolio %
Financials	35.9
Information Technology	13.1
Energy	9.1
Materials	8.9
Consumer Discretionary	8.8
Consumer Staples	7.4
Health Care	6.3
Industrials	4.2
Telecommunication Services	1.8
Utilities	1.5
Cash	3.0
Total	100.0

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

14th August 2013

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

Telephone: [phone]

This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

ENDS

Please note that up to date information on the Company, including daily NAV and share prices, factsheets and portfolio information can be found at at www.jpmindian.co.uk

 

END

 

 

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